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JPMorgan added Netflix to its list of favorite stocks as the new month gets under way. Every month, the bank refreshes its analyst focus list, which includes its top ideas aligned with the growth, income, value and short investment strategies. JPMorgan’s changes come after a month characterized by high market volatility stemming from President Donald Trump’s new global tariffs. Recent disappointing data points have further bolstered fears of an economic slowdown. Although hopes of easing trade tensions sent stocks higher to wrap up April, this slight comeback wasn’t enough to save the S & P 500 and Dow Jones Industrial Average from closing the month lower. May’s additions to JPMorgan’s focus list included Netflix, AutoZone , Digital Realty Trust and Ulta Beauty . On the other hand, the bank removed Lowe’s , Targa Resources , Home Depot and Wayfair from its basket. Streaming giant Netflix has been on an unprecedented hot streak . The stock closed Friday at $1,156.49, after hitting an all-time high earlier in the day. Shares, which have gained nearly 30% this year, have already blown through Anmuth’s price target of $1,150. “NFLX has established itself as the clear leader in global streaming & is on the pathway to becoming global TV … Advertising Upfronts in May should serve as a positive catalyst to shares,” analyst Douglas Anmuth wrote as justification. Most analysts covering the stock echoed Anmuth’s bullishness. However, the average price target for Netflix is approximately 3% below the stock’s current valuation. Another new addition to the list was beauty stock Ulta Beauty, which analyst Christopher Horvers also has an overweight rating on. Shares of Ulta have slipped 9% in 2025. However, Horvers’ price target of $475 implies that the stock could rally 20%. “We are adding ULTA to the Analyst Focus List as a value idea as market share performance improvement yields top line momentum and a stock re-rating,” the analyst wrote. “In addition, we believe conservative margin guidance is likely to yield upward earnings revisions.” Most analysts are neutral on Ulta. The average price target suggests a 4% upside. Horvers is also overweight AutoZone, another new addition, which belongs to the growth strategy. “We are adding AZO to the Analyst Focus List as a growth idea given our view of increasing sales momentum driven by self-help in DIFM and market share gains, along with the potential for incremental tariff pricing tailwinds,” he wrote. “Combined with fading currency headwinds and the potential compounding effect of debt financed share repurchases, we see potential upward earnings revisions and further multiple expansion.” Shares of AutoZone have climbed 17% in 2025. The analyst’s $3,830 price target is approximately 2% above where shares closed on Friday. Analysts are generally bullish on the stock, with the average price target suggesting an upside of nearly 2%.
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